World markets today: US stocks surge as Treasury yields ease

US stock indices surged on Tuesday on easing Treasury yields, ahead of inflation data and FOMC (Federal Open Market Committee) minutes due on Wednesday.

At 9:36 a.m. ET, the Dow Jones Industrial Average was up 71.49 points, or 0.18 per cent, at 38,964.29, the S&P 500 was up 15.88 points, or 0.31 per cent, at 5,218.27, and the Nasdaq Composite was up 63.11 points, or 0.39 per cent, at 16,317.07.

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At the opening bell, the Dow Jones Industrial Average rose 90.9 points, or 0.23 per cent, to 38,983.66. The S&P 500 added 14.6 points, or 0.28 per cent, to 5,217.03, while the Nasdaq Composite gained 74.8 points, or 0.46 per cent, to 16328.756.

The yield on the 10-year Treasury eased to 4.38 per cent from 4.42 per cent late on Monday.

Alphabet stock gained 1.4 per cent after Google unveiled the details of a new version of its data center artificial intelligence chips.

Shares of Amazon.com, Meta Platforms and Microsoft rose between 0.2 per cent and 0.5 per cent.

European stocks mainly fell on Tuesday ahead of interest rate decision from the European Central Bank due on Thursday.

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Britain’s FTSE 100 edged up 0.1 per cent at 7,950.52 points. France’s CAC 40 fell 0.6 per cent at 8,070.99. Germany’s DAX lost 0.7 per cent at 18,192.21.

The Euro Stoxx 50 dropped 0.6 per cent at 5,014.57.

In Asian stock markets, Hong Kong’s Hang Seng index rose 0.6 per cent at 16,828.07. China's Shanghai Composite added 0.1 per cent at 3,048.54. Japan’s Nikkei 225 climbed 1.1 per cent at 39,773.13. 

Crude oil

Crude oil prices were steady on Tuesday amid fading hopes of ceasefire between Israel and Hamas.

Brent crude futures edged up 6 cents, or 0.07 per cent, to $90.44 per barrel by 1156 GMT. US West Texas Intermediate (WTI) crude futures were down 2 cents or 0.02 per cent at $86.41.

Bullion

Gold prices hit a record high on Tuesday for an eighth consecutive session on geopolitical worries.

Spot gold was up 0.7 per cent to $2,354.37 per ounce by 1158 GMT after hitting a record high of $2,365.09. Spot silver rose 0.8 per cent to $28.05 per ounce after hitting $28.18, the highest since June 2021.